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Blog > Welcome To Kidz Games!

Posted on Friday, 5th December, 2008 at 7:42am

We'd love to bid you welcome to the newest collector card website on the internet! This is our blog, and you can follow it for the latest Kidz Games news by subscribing to our feed.

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Google controls more than 65 percent of web searches worldwide and earns most of its money - billions of dollars - in search-related advertising.

The U.S. Federal Trade Commission (FTC) says it wants to know whether Google is using its dominance in searches not only to earn advertising revenue but also to channel users to its growing network of services.

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The FTC investigation mirrors a similar probe the European Union opened last year. The U.S. state of Texas also is looking at Google's business practices.

Google executives say they do not believe they are doing anything wrong or violating any antitrust laws.
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In the 1990s the FTC looked into the business practices of Microsoft and whether it was using its Windows operating system to kill competing software makers.

That case was settled in 2002. It was only last month that Microsoft emerged from government oversight.

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WASHINGTON, June 25 (Xinhua) -- U.S. President Barack Obama on Saturday touted investment at home as a key to propping up the world's largest economy, despite the ongoing deficit reduction efforts.

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Budget cutting did not mean cutting "our way to prosperity", Obama said in his weekly address, adding that "we need to do what's necessary to grow our economy, create good, middle-class jobs, and make it possible for all Americans to pursue their dreams".

"It means rebuilding our crumbling roads, railways and runways. And it means investing in the cutting-edge research and technologies that will spur growth in the years ahead, from clean energy to advanced manufacturing," Obama said.

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Stock markets rallied Friday after European Union leaders agreed on a new bailout for Greece, provided that Athens commits to more austerity measures. But the Greek deal fails to address fundamental problems threatening the future of the 17-member eurozone.

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Speaking to reporters on Friday, German Chancellor Angela Merkel described the bailout deal for Greece agreed by European Union leaders in Brussels as "good."
Merkel said the 27-member EU was going to push Greece and another ailing eurozone member, Portugal, to respect austerity programs they have agreed to in exchange for massive loans. European finance ministers are meeting in early July to carve out the details of the new Greek rescue package, which will reportedly be worth more than $171 billion.

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But the months-long eurozone crisis - which has not only hit Athens, Portugal and Ireland, but also threatens Spain - is far from over. First, Greek lawmakers must approve more austerity measures in exchange for a new bailout, and it's by no means certain they will do so.

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But Simon Tilford, chief economist for the London-based Center for European Reform, says true reform is going to take more than just a parliamentary vote.

"Resolving the Greek crisis is going to need more than a series of bailouts," said Tilford. "Basically, unless the Greek economy can return to economic growth, they won't be able to bring about ongoing improvements in the country's public finances."

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Tilford says doing so means addressing fundamental problems not only facing Greece, but the 17-member eurozone as a whole.

"Going forward, one of two things have to happen within the eurozone," added Tilford. "Either they bite the bullet and they forge some fiscal union that is they have a federal budget whereby countries with stronger public finances transfer moneys to those with weaker public finances."

Or, Tilford says EU leaders should address the huge trade imbalances within the eurozone marked by strong exporters like Germany and weak ones like Greece.

Janis Emmanouilidis, senior policy analyst for the Brussels-based European Policy Center, agrees the European Union must address fundamental imbalances within the eurozone if the monetary union is to remain intact.

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"I think the member states will come out of the crisis," said Emmanouilidis. "I'm not saying in total. I'm not saying some of the member states won't face even more severe problems. In the Greek case we don't know how the case will in the end start to develop."

If the EU resolves its eurozone debt problems, analysts like Emmanouilidis believe the block could emerge strengthened from the experience. If not, some analysts fear the decade-old currency zone may not survive, at least not in its current form.

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The websites of the Brazilian Institute of Geography and Statistics (IBGE) and the Cultural Ministry became the latest victims of a string of hacker attacks Friday.

Statistics agency IBGE's homepage was replaced by an image file and a warning that this month Brazil would be the target of the worst hacker attacks in its history. The culprit, a group called Fireh4ck3r, claimed the attacks were a form of protest of a nationalist group to make Brazil "a better country."

The group said there was no place for groups "without any ideology," such as LulzSec in Brazil, a group that had targeted some governmental websites earlier this week.

In an official statement, IBGE assured that the agency's database was not affected, though it was taken offline for a full analysis of the attack.

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Moreover, the Cultural Ministry said its website had suffered an invasion attempt, but no data was stolen.

The series of attacks is unprecedented, and the IBGE and the Cultural Ministry are only the latest in a series of federal websites targeted by several hacker groups.

The attacks started last Saturday, when a group called Fatal Error Crew broke into the Brazilian Army website and leaked personal data over 1,000 personnel. The group also made the presidency's website a target in early January.

On Wednesday, hackers from the LulzSecBrasil group targeted the presidency's site, as well as a portal providing general information on Brazil and the Federal Revenues Secretariat page.

However, government data processing organ Serpro stated that the attacks were unsuccessful and the hackers did not manage to get access to any data.

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Later that day, Brazil's state-controlled oil and gas giant Petrobras was invaded, with LulzSecBrazil claiming responsibility for the attack.

Then on Thursday, the Sport Ministry was attacked. Hackers claimed they obtained information regarding fraud in the 2014 World Cup and 2016 Olympic Games, but the ministry said the data was false. The ministry's website is already back online after an overhaul.

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In addition, LulzSecBrazil posted a link for a file with information on Brazil's President Dilma Rousseff and Sao Paulo mayor Gilberto Kassab on Twitter. However, the government stated that the information provided about the president is not confidential, being available on the Internet in several official accountability reports and electoral court documents.

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The U.S. Federal Aviation Administration (FAA) on Saturday partially shut down, furloughing without pay about 4,000 workers as Congress failed to reauthorize the agency's funding.

The Senate on Friday failed to approve a controversial extension of taxes that help fund the FAA. The measure was passed by the House.

In a statement, Transportation Secretary Ray LaHood said he's " very disappointed" that Congress didn't pass the extension of FAA funding.

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LaHood stressed essential personnel related to airport and air safety would not be cut, saying "safety will not be compromised."

The House on Wednesday approved an extension of FAA taxes until Sept. 16, but that extension included language that would prohibit federal subsidies from going to three small airports in Montana, Nevada and New Mexico because tickets there are subsidized at more than 1,000 dollars per ticket. The House extension also included language eliminating subsidies to 10 small airports because they are within 90 miles of a medium or large airport.

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"It is unbelievable that after the House passed the 21st FAA extension, the Senate departed Washington and left the FAA and many of its employees behind," House Transportation and Infrastructure Committee Chairman John Mica said.

But Senate Commerce, Science and Transportation Committee Chairman Jay Rockefeller accused House Republicans of playing politics with the bill.

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The most active gold contract for August delivery climbed 14.5 dollars, or 0.9 percent, to 1,601.5 dollars per ounce.

A trader mentioned that gold has received strong support as a bomb ripped through Oslo's central government district on Friday, killing seven people.

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"The situation in Greece is a long way from being over despite their receiving bailout money from the IMF and European Union jointly," said Daly, "The European Union's debt crisis appears to spreading and therefore adding to the fragility of the region", Daly added.

Meanwhile, gold also rallied on Friday, as slow progress toward an agreement to raise the U.S. debt ceiling fueled investors' demand for a refuge asset.

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Daly pointed out that it has become a reality that U.S Legislators are going to wait until the August 2nd deadline and continue to hold world markets hostage.

Silver for September delivery jumped 1.175 dollars, or 3 percent, to 40.122 dollars per ounce. Platinum for October delivery added 10.6 dollars, or 0.6 percent, to 1,798.4 dollars per ounce.

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China Everbright Bank on Saturday refuted a report by a unit of Goldman Sachs that implied that the bank has a higher level of exposure to risk default because of its high percentage of loans made to local government financing vehicles.

Gao Hua, a group that is part of Goldman Sachs's China operations, said in a research report that 20 percent of the China Everbright Bank's loans were made to local government financial vehicles.

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The bank's loan-to-deposit ratio was 81 percent at the end of 2010, the report said.

The research data implied that the risk of bad local government debt has had a negative impact on the bank, but the results do not conform to reality, the bank said, adding that it is suspicious of the group's sources.

The bank hit back with data showing that by the end of the first quarter, the outstanding loans of local government financing vehicles totaled 94.9 billion yuan (14.7 billion U.S. dollars), down 22 billion yuan from the end of last year.

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The percentage of loans made to local government financing vehicles fell to 11.5 percent by the end of March from 15 percent at the end of last year, the bank said.` The loan-to-deposit ratio was 71.15 percent at the end of last year, it added.

The bank's non-performing loan ratio for local government financing vehicles was 0.57 percent by the end of March, lower than the bank's overall ratio of 0.7 percent, it said.

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The bank has strictly controlled new lending from local government financing vehicles and barred loans to borrowing institutions that are below the provincial level, it said.

The bank's asset quality is generally good and its risks are controllable, it said.

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Chinese Foreign Minister Yang Jiechi called for further pragmatic regional cooperation at the just-concluded 18th ASEAN Regional Forum (ARF) Foreign Ministers' Meeting held Saturday.

Yang said that addressing differences through talks and negotiations and dealing with common challenges through cooperation have become a consensus between countries in the region.

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He said developing economy and improving people's livelihoods still top the agenda of the Asia-Pacific region. All the parties should trust but not suspect one another, and cooperate with but not confront each other, he added.

China will stick to the road of peaceful development, follow the opening-up strategy based on mutual benefit and work with other Asia-Pacific countries to create a peaceful, stable, equal and win-win situation.

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As to the South China Sea issue, Yang said the dispute should be settled by directly related parties through friendly negotiation and in a peaceful manner.

The channels for dialogue and consultation between related parties are open and the overall situation in the South China Sea is peaceful and stable, he said.

The minister said properly handling the dispute, enhancing mutual trust and expanding cooperation serve the common interest of every country in the region and this is also the direction that all the concerned countries should move towards.

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Yang said the importance of the freedom of navigation in the South China Sea is self-evident, adding that the countries, whether inside or outside the region, are all beneficiaries.

The freedom and security of navigation in the South China Sea is especially important to Asia and surrounding nations, and it is not, and will not be allowed to be obstructed, said Yang.

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He also expressed the Chinese side's views, stance and propositions on the situations in the Korean Peninsula, Myanmar, Afghanistan, South Asia, West Asia and North Africa.

On Saturday, Yang also met with Australian Foreign Minister Kevin Rudd. The two sides said they attach great importance to China-Australia relations and they are willing to further raise the bilateral relations to a new level with the opportunity of the 40th anniversary of the establishment of the diplomatic relations between China and Australia.

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Gold futures on the COMEX Division of the New York Mercantile Exchange drifted higher on Friday, ending a 3-session losing streak, benefited from lingering doubts about the success of Eurozone rescue plan and U.S. debt ceiling talks.

The most active gold contract for August delivery climbed 14.5 dollars, or 0.9 percent, to 1,601.5 dollars per ounce.

A trader mentioned that gold has received strong support as a bomb ripped through Oslo's central government district on Friday, killing seven people.

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"Anytime there is an act of war or terrorist act, it normally is very bullish Gold, as it sends investors into safe haven alternative investments," said Mike Daly, a gold specialist with PFGbest here in Chicago.

The bullion has been recently come under pressure amid a weaker dollar and as a plan to resolve the euro zone's sovereign- debt issues dimmed the gold's shine as a safe-haven.

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"The situation in Greece is a long way from being over despite their receiving bailout money from the IMF and European Union jointly," said Daly, "The European Union's debt crisis appears to spreading and therefore adding to the fragility of the region", Daly added.

Meanwhile, gold also rallied on Friday, as slow progress toward an agreement to raise the U.S. debt ceiling fueled investors' demand for a refuge asset.

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Daly pointed out that it has become a reality that U.S Legislators are going to wait until the August 2nd deadline and continue to hold world markets hostage.

Silver for September delivery jumped 1.175 dollars, or 3 percent, to 40.122 dollars per ounce. Platinum for October delivery added 10.6 dollars, or 0.6 percent, to 1,798.4 dollars per ounce.

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China Everbright Bank on Saturday refuted a report by a unit of Goldman Sachs that implied that the bank has a higher level of exposure to risk default because of its high percentage of loans made to local government financing vehicles.

Gao Hua, a group that is part of Goldman Sachs's China operations, said in a research report that 20 percent of the China Everbright Bank's loans were made to local government financial vehicles.

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The bank's loan-to-deposit ratio was 81 percent at the end of 2010, the report said.

The research data implied that the risk of bad local government debt has had a negative impact on the bank, but the results do not conform to reality, the bank said, adding that it is suspicious of the group's sources.

The bank hit back with data showing that by the end of the first quarter, the outstanding loans of local government financing vehicles totaled 94.9 billion yuan (14.7 billion U.S. dollars), down 22 billion yuan from the end of last year.

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The percentage of loans made to local government financing vehicles fell to 11.5 percent by the end of March from 15 percent at the end of last year, the bank said.` The loan-to-deposit ratio was 71.15 percent at the end of last year, it added.

The bank's non-performing loan ratio for local government financing vehicles was 0.57 percent by the end of March, lower than the bank's overall ratio of 0.7 percent, it said.

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The bank has strictly controlled new lending from local government financing vehicles and barred loans to borrowing institutions that are below the provincial level, it said.

The bank's asset quality is generally good and its risks are controllable, it said.

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The U.S. dollar fell against major currencies this week, weighed by concerns over the U.S. government' s debt ceiling, and a new bailout deal to solve European debt problems helped lift the euro.

As the deadline of raising the U.S. government' s debt ceiling is approaching, investors' concerns about the issue are mounting. They feared that policy makers may fail to reach agreement in time, resulting in a possibly catastrophic U.S. default.

Rating agency Standard & Poor' s again warned to cut the U.S. triple-A ratings in the near term if politicians in Washington failed to reach agreement on raising debt ceiling.

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The agency placed the U.S. credit ratings on watch for possible downgrades last week, saying the risks of government' s debt issue are mounting.

However, economic data helped to ease some of the market tensions. The Commerce Department said the recovery of the U.S. housing market might be picking up momentum, as housing starts in June rose 14.6 percent to a seasonally adjusted annual rate of 629,000, the highest level since January.

Overall, the dollar dipped further this week as the dollar index, which measures the exchange rate of the greenback to a weighted basket of major currencies, lost 1.17 percent to 74.245.

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The results of Europe' s banking stress tests released last Friday showed that eight banks failed the test with a combined capital shortfall of 2.5 billion euros. Some analysts questioned that the test might not be tough enough because it excluded the possibility of Greek debt default.

European leaders met on Thursday for a eurozone emergency summit to talk about new measures to address the debt crisis.

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On Thursday, European Union leaders agreed to a new 157 billion dollar bailout plan for Greece. The leaders emphasized their commitment to stop the contagion.

The new plan, which included participation from private investors, helped shore up investors' confidence in the euro. The shared currency gained nearly 1.5 percent against the dollar this week.

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Against the British pound, the dollar dipped nearly 1 percent this week as the British central bank maintained its ultra-loose monetary policy. The latest minutes of Bank of England' s monetary policy meeting showed that the central bank decided to leave its benchmark interest rate unchanged at 0.5 percent, as most investors had expected. The decision also reinforced the speculation that the rate will stay at that level for another year as the bank said the economy' s soft patch "would persist for longer than previously thought."

Japanese yen was lifted by better-than-expected trade data on Thursday. Japan' s Ministry of Finance said that Japan' s trade surplus in June reached 70.7 billion yen, beating previous expectations of a trade deficit.

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Strong corporate earnings from bule-chips such as Apple Inc., Coca-Cola Co. and IBM Corp. helped send the Wall Street higher this week.

On Friday, the Dow Jones industrial lost 43.25 points, or 0.34 percent, to close at 12,681.16, but the index still gained 1.6 percent for the week.

The Standard & Poor's 500 was up 1.22 points, or 0.09 percent, to close at 1,345.02 for the last trading day of the week. The index had a weekly gain of 2.2 percent.

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The Nasdaq Composite Index jumped 24.40 points, or 0.86 percent, to 2,858.83. For the week, the technology-heavy index gained 2.5 percent.

On Friday, Caterpillar slumped about 6 percent after the heavy equipment maker reported weaker-than-expected second-quarter earnings, the first miss in ten recent quarters.

The Nasdaq outperformed on Friday, boosted by strong earnings from technology powerhouses.

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Advanced Micro Devices, the second-largest maker of processors for personal computers, soared nearly 20 percent after it released higher sales forecast than previously estimated.

SanDisk also surged about 10 percent after the memory chips maker reported substantially higher profit than Wall Street anticipated.

On euro zone front, European Union leaders Thursday agreed on a new bailout plan for Greece at a eurozone emergency summit. The leaders also emphasized their commitment to stop the debt contagion.

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Meanwhile, uncertainty over the U.S. government' s debt ceiling issue was still hanging in investors' mind.

Basic materials sector was up 0.02 percent due to higher materials prices. Energy shares rose 0.29 percent as the U.S. benchmark crude oil price jumped above 100 dollars a barrel on Friday as EU leaders approved the new bailout plan for Greece.

Moreover, U.S.-listed Chinese stocks also rose this week as the Nasdaq China index rose 2.4 percent to close at 221.08 points.

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A man was sentenced to death Tuesday in south China's Guangdong Province for forging counterfeit yuan notes with a par value of 170 million yuan with 15 other gang members.

Xiao Guihong, the ring leader, was given the death penalty in the first-instance trial, according to a verdict released by the Dongguan City Intermediate People's Court.

The other 15 ring members were given sentences ranging from death with a reprieve to a year and 10 months in prison, the verdict said.

The 16 members were also ordered to pay fines ranging from 350,000 yuan (54,400 U.S. dollars) to 60,000 yuan.

The gang members made an illegal profit of 1.8 million yuan from selling fake yuan notes worth 56 million yuan in total par value in August 2009, according to the court.

Police confiscated the rest of the notes with a par value of 114 million yuan in two raids in the same year.

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Authorities in China's southwestern city of Mianyang Tuesday warned citizens not to drink tap water as a river that supplies water to the city was polluted by tailings of a local manganese plant.

The residues of the electrolytic manganese plant in the county of Songpan, which was administered by the city of Mianyang in Sichuan Province, were washed into the Fujiang River by heavy rains that hit the city last Thursday, according to a notice posted on the city government's official website.

According to the statement, monitors of the local environment bureau detected the pollution on Tuesday.

The city government has ordered more supply of bottled water for citizens, said the statement.

It also said that the government has been taking measures to clear the contamination in the river but it failed to elaborate on the measures.

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President Hu Jintao said the government will continue its proactive fiscal policy and prudent monetary policy in the second half of this year, with stabilizing prices as a priority.

Hu, also general secretary of the Communist Party of China (CPC) Central Committee, made the remarks at a symposium held in Beijing Thursday. People from the non-communist parties and the All-China Federation of Industry and Commerce, as well as those without party affiliations attended the event.

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The government will maintain the continuity and stability of its economic policies, while keeping close watch on economic development and price increases, Hu said.

A top priority of the macroeconomic policies is that more efforts should be made to keep prices generally stable and maintain the stability of consumer prices, Hu noted.

Premier Wen Jiabao echoed Hu's stance, reiterating at the symposium that the government will stick to the current macroeconomic policies, and he pledged there would be more emphasis on stabilizing prices and more measures to curb excessive price increases.

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The government will work to "slow down price gains while preventing big fluctuations in economic growth," Wen said.

He said China's economy is developing in the expected direction under the government's macroeconomic controls with more self-initiated growth instead of the expansion that was spurred by the economic stimulus previously.

However, China still faces many instabilities and uncertainties in economic development, he warned, adding that "the world economic recovery remains fragile and unbalanced."

Government data shows China's gross domestic product (GDP) rose by 9.5 percent year-on-year in the second quarter of 2011, tapering off slightly from the 9.7-percent growth posted in the first quarter.

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Inflation remained stubborn as it escalated to its highest level in three years of 6.4 percent in June. The consumer price index (CPI), the main gauge of inflation, jumped 5.4 percent year-on-year in the first half, well above the government's target of 4 percent for the year.

The central bank has so far lifted the reserve requirement ratio for banks six times and raised interest rates three times this year to put a lid on price increases.

Many economists and institutions expect that inflation peaked in June or is close to peaking. The Bank of Communications said in a report Thursday that inflation may fall to 4 percent by the year end and that the economy has little risk of a hard landing.

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The International Monetary Fund projected earlier this week that China's economy will grow 9.6 percent this year, propelled by rising exports and increasing domestic consumption.

It also said inflation in China will ease in the second half of this year.

Meanwhile, Hu pledged the government will step up agricultural production for a full-year harvest, improve social security, increase aid to low-income families, promote food safety and accelerate construction of low-income housing in the second half of the year.

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Hu also vowed to advance economic restructuring and accelerate development of new strategic industries, and promote development in the Tibet Autonomous Region, Xinjiang Uygur Autonomous Region, Inner Mongolia Autonomous Region and other regions populated by ethnic minority groups.

Wen added the government will launch an overall audit over local government debts and clear up and regulate local government financing vehicles.

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Thunderstorms have been battering southwest Chongqing Municipality -- damaging homes and farmland, cutting power supplies, and affecting approximately 275,000 people since July 21.

More than 1,500 houses have been damaged by the continuous storms and another 400 have collapsed, according to the flood control and drought relief headquarters of Chongqing.

About 6,866.66 hectares of farmland have been affected by the thunderstorms.

There will be another round of thundershowers with heavy winds and hail in Chongqing on Tuesday, according to the forecast released by the municipal meteorological observatory.

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In north Inner Mongolia Autonomous Region, a bridge was destroyed by rain-triggered floods on the Jining-Tongliao Railway.

About 3,800 passengers were stranded on five stalled trains from 7:30 p.m. on Monday, according to the railway bureau of Hohhot, capital city of Inner Mongolia.

As of the midday on Tuesday, most of the stranded passengers have been transferred by car to their destinations or other train stations nearby.

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The round of strong rainfalls also battered north China's Hebei Province, neighboring Beijing, leaving 330,000 people in disaster and one person missing as of Tuesday.

About 14,000 hectares of farmland have been affected by the rain, and of that, 320 hectares have lost harvest. More than 700 houses and some urban and rural infrastructure were damaged.

In central China's Hubei Province, thunderstorms and strong winds hit the northwestern areas at around 3:30 p.m. Monday and caused power failure and three trains delayed.

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A senior official of the Communist Party of China (CPC) has called on authorities to actively respond to reasonable appeals from the public and work to ensure the masses benefit from China's economic development.

Zhou Yongkang, a Standing Committee member of the Political Bureau of the CPC Central Committee, told a meeting in Beijing Thursday the number of petition letters and visits remains "relatively big" and there were some prominent conflicts and problems.

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The overall situation is good, but some people's reasonable needs have not been dealt with properly, according to the official.

In an effort to prevent and defuse social conflict, Zhou believes it is necessary to address the root causes.

Government officials and leaders were asked to meet the masses and work to ensure that petitioners' voices are heard and their problems solved.

Authorities should always put people first and attach importance to solving issues regarding petition letters and visits, Zhou said.

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A sudden downpour hit Beijing Tuesday night, disrupting traffic in many parts of the city.

The downpour brought a precipitation of more than 100 millimeters in three hours from 9 p.m. Tuesday, blocking traffic in several artery roads in downtown area.

A car was submerged by rain water under the Lianhua (Lotus) Bridge on the city's Third Ring Road, where stagnant water was over one meter deep.

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"This round of downpour was concentrated in the downtown area, affecting urban traffic. The suburban districts received little rainfall," said Wang Yi, chief engineer with the Beijing municipal headquarters of flood control and drought relief, Wednesday.

A driver surnamed Cui said he was stranded on the Second Ring Road for two hours at Tuesday midnight.

"The highway has become a big parking lot. Water on ground was half a meter high," he said.

The municipal observatory forecast that the thunderstorms could occur in Beijing from Wednesday through Saturday, as the city has entered its flood season.

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Premier Wen Jiabao on Wednesday ordered a "swift, open and transparent" investigation into Saturday's fatal high-speed train collision.

Wen made the remarks at an executive meeting of the State Council, China's Cabinet.

Great importance must be attached to finding out the facts and judging responsibility in accordance with the country's laws and regulations, according to a statement released after the meeting.

Unswerving efforts should be made to save those who were injured in the crash, the statement said.

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At least 39 people died and 192 others were injured in Saturday's high-speed train crash near the city of Wenzhou in east China's Zhejiang Province. The train D301 rear-ended D3115, which stalled after losing power due to a lightning strike.

Wen offered his "deep condolences" to the victims and their families.

The State Council demanded for efforts to be made to confirm the death toll, identify the victims and provide proper compensation.

Three railway officials were sacked after the crash.

The MOR has promised to pay the families of the deceased 500,000 yuan (about 77,640 U.S. dollars) each in compensation.

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The State Council has set up an investigation panel, which is still working on the site, the MOR said Tuesday in a statement to Xinhua. However, the ministry did not provide a timetable about when the result would come out.

To ease public concerns and prevent further accidents, the State Council has decided to "take resolute steps to enhance safety," according to the statement.

A nationwide campaign will be launched to improve work safety, focusing on areas such as transportation, coal mining, construction and the hazardous chemical industry.

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The campaign aims to detect and remove potential dangers through comprehensive and thorough inspections of railways, roads, bridges, coal mines and buildings that are currently under construction.

The State Council urged both central and local authorities to draw lessons from past accidents and improve management, promote technological progress and enhance trainings to prevent accidents.

It also called for efforts to accelerate the revision of the Production Safety Law, defining responsibility and intensifying punishments for those who held responsible for work safety accidents.

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Mexican military personnel have found 60 hectares of marihuana cultivations in the northern state of Durango and confiscated 40 metric tons of the drug, Mexico's National Ministry of Defense said on Monday.

The areas cultivated with the drug were found in the municipality of Santa Maria del Oro, the ministry said in a statement.

The drug, which was seized in an operation carried out over the weekend, has a street value worth some 133 million U.S. dollars.

In the same operation the military also seized five vehicles, 26 military uniforms, two large assault weapons, 14 chargers, 108 cartridges, a laboratory, five camps and 23 lots of marijuana distributed in a field of 60 hectares on a ranch known as San Jose de Ramos.

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The ministry destroyed a total of 180 hectares of marijuana last week, including a major 120-hectare field found in the state of Baja California on July 18. So far this year the ministry has confiscated a total of 409,435 tons of marijuana, bringing to 3.1 million tons confiscated since December 2006 when Mexican President Felipe Calderon took office and declared war against the drugs cartels and organized crime.

In the same period 4,075 tons of cocaine and 125 tons of heroine were confiscated in addition to 8,842 vehicles, 28 airplanes, 17 boats and 17,611 weapons.

Authorities also said a total of 6,634 people have been arrested on drugs-related charges while 6.4 million dollars in cash and 33 million pesos (2.8 million U.S. dollars) have been seized.

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The U.S. State Department on Monday denied that the country is involved in the recent assassination of an Iranian nuclear scientist, urging Iran not to use the incident to "distract attention."

"We were not involved," State Department spokesperson Victoria Nuland told reporters, in response to the death of Dariush Rezaei, an Iranian nuclear scientist who was killed in eastern Tehran on Saturday.

She said it is a "frequent practice" for Iran to "accuse the West" for these kinds of incidents.

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"We hope that Tehran is not planning to use this incident to distract attention from what it needs to do, which is to come back into compliance with international obligations," she added.

Iran's Majlis (parliament) Speaker Ali Larijani called the assassination as a " U.S.-Zionist terrorist act," the satellite Press TV reported Sunday.

There have been a series of assassination attempts against Iran 's nuclear scientists in recent years.

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In January 2010, the Iranian nuclear scientist and the Physics professor at the prestigious University of Tehran, Massoud Ali- Mohammadi, was killed by a remote-controlled bomb attached to a motorbike parked near his house.

In November 2010, another Iranian nuclear scientist Majid Shahriar was also killed by a bomb attached to his car on the way to his work.

In January, Iran said it dismantled an Israeli spying network and arrested a group of people who were linked to the assassination of its nuclear scientist Massoud Ali-Mohammadi.

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U.S. President Barack Obama will address the Americans at 9 p.m. EDT on Monday about the state of efforts to raise the government's debt ceiling, said the White House in a statement.

"The president will address the nation from the White House on the stalemate in Washington over avoiding default and the best approach to cutting deficits," it said.

The world's largest economy is face an unprecedented default on Aug. 2 if the country could not raise its 14.29 trillion dollars borrowing limit which was hit on May 16.

With only a week before the deadline, the two parties in Washington remain split on their approaches to solve the problem which may cause global repercussions.

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Four workers were injured when southwest Iran's Abadan Refinery, the biggest in the country, caught fire Wednesday, the semi-official Fars news agency reported.

The fire broke out in the refinery's cracker unit which produces gasoline, said the report, quoting deputy chief of Iran's Parliament's Energy Commission, Abdollah Kabi.

Firefighters are trying to contain the fire and the cause of the accident would be clarified quickly, said Kabi.

In May, an explosion hit the cracker unit of Abadan Refinery when Iranian President Mahmoud Ahmadinejad attended an inauguration ceremony of the new gasoline producing project in the refinery.

Later reports said that four people were killed in the explosion and some 20 people were injured.

Head of the Iranian Parliament Energy Commission Hamid-Reza Katouzian said the blast in the oil refinery was caused by a technical failure.

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The gap between the United States and the Palestinians on approaching the United Nations for a full membership of the state of Palestine is so large and deep, a senior official said Wednesday.

Yasser Abed Rabbo, a member of the Palestine Liberation Organization (PLO) Executive Committee, told a press conference in Ramallah that despite the gap, we asked for a continuation of the meetings.

Abed Rabbo's statements followed a meeting held on Wednesday evening here between Palestinian National Authority President Mahmoud Abbas and acting U.S. envoy for peace David Hale.

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Over the past couple of days, the Palestinian territories are witnessing an active diplomatic movement of Europeans and Americans as the Palestinians are determined to request a full membership of Palestine at the UN.

Meanwhile, Saeb Erekat, a veteran Palestinian peace negotiator revealed that the American officials proposed that the Quartet envoy Tony Blair, who met Abbas and Israeli Prime Minister Benjamin Netanyahu, to form a statement on the resumption of the direct peace talks between the two sides.

President Abbas responded to this proposal by saying that there is no contradiction between resuming the talks and applying to the UN to gain the full membership of the state of Palestine, Erekat told reporters.

Abbas, who met earlier with Hale and on Tuesday with Blair, had said that the Palestinian leadership would be ready to resume the stalled direct peace talks with Israel if Israel shows commitment to peace references and the principle of the two-state solution.

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Well-informed official Palestinian sources told TingVoa.com that during the meeting with Hale, the American official threatened that his country would use the veto power against the Palestinian bid at the UN. Hale told Abbas that the Quartet Committee will convene on Saturday to study the resumption of the talks.

Meanwhile, the Palestinian state-run Wafa news agency reported that Abbas spoke on the phone with Arab League Chief Nabil al- Arabi to prepare for the upcoming meeting of the AL follow-up committee, which will be held in the Egyptian capital of Cairo on Sept. 12 to discuss the Palestinian determination to approach the UN to request a full membership of the state of Palestine.

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The death toll of the terrorist attack outside the Delhi High Court in the Indian capital Wednesday has risen to 11 while 76 people were injured, a senior Home Ministry official said.

The attack is described as the third worst bombing attacks since the Mumbai terror attacks in 2008.

Police said a suitcase bomb went off around 10.30 a.m. just outside Gate No. 5 of the Delhi High Court complex near India Gate, a major tourist attraction, in central New Delhi where about 300 people including litigants, media personnel and other visitors to the court were queuing to get passes for entry into the court.

Indian Home Secretary R.K. Singh said the remains of the suitcase where the bomb was have been found.

The Pakistan-based Harkat-ul-Jehadi Islami in an email to various media houses claimed responsibility, according to Indo- Asian News Service.

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The email sent from an unknown location threatened that the hanging of 2001 parliament attack convict Afzal Guru should be repealed immediately, according to the news service. But this report is not confirmed by the authorities.

We are investigating how the brief case was placed there as it is not a controlled area. There were lots of people, said Special Commissioner Dharmendra Kumar.

Delhi Police Commissioner B.K. Singh has rushed to the spot which has been evacuated as local TV channels aired footage of commandos taking over the building complex located near the iconic India Gate in central Delhi.

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According to TV channels, Delhi Police suspect use of potassium nitrate in the blast.

Indian Prime Minister Manmohan Singh condemned the attack as cowardly and called on all political parties, all the people of India have to stand united so that the scourge of terrorism is crushed.

In May this year, a blast took place in a parking lot near the cafeteria of the High Court. At that time, no body was injured.

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Gold futures on the COMEX Division of the New York Mercantile Exchange lost more than 55 dollars on Wednesday, the second straight drop in a row, as the rebound in global stock markets eroded demands for the precious metal.

The most active gold contract for December delivery lost 55.7 U. S. dollars, or three percent, to 1,817.6 dollars per ounce. That was gold's largest one-day drop in two weeks, and the lowest settlement in a week and half.

Market analysts said that the stock markets around the world posted strong gains, which dampened appetites for gold and squeezed money out of the precious metal market. Asian and European equities Wednesday posted strong gains, while U.S. stocks ended a three-day drop and closed higher.

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It is my belief that many traders will continued to liquidate long positions as well as play the short side in anticipation of President Obama's job address to the nation, said Mike Daley, a senior gold analyst with PFGBEST Group.

However, some traders noted that the short-term correction would not last for long, as there was always pent-up buying on the market and the bullish themes for gold are still around.

Silver for December delivery further shed 23.7 U.S. cents, or 0. 57 percent, to 41.631 dollars per ounce. Platinum for October delivery also lost 29.5 dollars, or 1.6 percent, to 1828.7 dollars per ounce.

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The U.S. economy continues to expand at a modest pace, with weaker activity in some districts, the Federal Reserve said on Wednesday.

In its latest economic performance survey, the central bank saw either modest or slight expansion in districts including St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. But growth in other districts including New York remained sluggish or more slowly.

The survey, known as the Beige Book, was based on economic information supplied by the Fed's 12 regional banks and collected during the reporting period from mid July to August 26.

The Fed said that recent stock market volatility and increased economic uncertainty had led many districts to downgrade or become more cautious about the near-term economic outlook.

Consumer spending increased slightly in most districts since the last report, said the Fed. However, but non-auto retail sales were flat or down in several districts. Manufacturing conditions were mixed across the country.

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U.S. residential and commercial real estate remained weak overall, but improvements were noted in several areas.

The Fed also noted that labor market conditions were generally stable with some districts reported modest employment growth.

The survey found fewer price pressures in majority of districts, but input costs continued to rise in select industries.

Government data showed that U.S. economy grew 1.3 percent in the second quarter and 0.4 percent in the first three months. The White House projected that the overall economy will increase only 1.7 percent in 2011.

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U.S. crude oil prices surged on Wednesday as a majority of oil production in the Gulf of Mexico remained shut because of the Tropical Storm Lee.

The U.S. government reported that more than 60 percent of oil production in the Gulf remained shut following Tropical Storm Lee, which started to impact the oil concentrated Gulf region in the past week and weakened Sunday. Government estimates have placed a loss of oil supply to the market at more than 4 million barrels since energy companies in the region began to close production on Sept. 1.

There were reports saying President Barack Obama would propose a 300 billion U.S. dollar package to boost jobs, which is calculated to help restore the market confidence in a better economy.

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Positive news also came from Europe over the debt crisis. After Italy proposed a new austerity plan, Germany's top court decided to give its support to Berlin for participating in euro zone bailout packages, which eased concerns about European debt crisis.

And the dollar index, which tracks the greenback's performance against a basket of six currencies, fell about 0.6 percent as the euro got boosted by the European debt hopes. A weaker dollar was usually bullish to dollar-denominated oil.

Prices of light, sweet crude for October delivery jumped 3.32 dollars, or 3.86 percent, to settle at 89.34 dollars a barrel on the New York Mercantile Exchange.

In London, Brent crude for October delivery rose 2.91 dollars, or 2.58 percent, to close at 115.80 dollars a barrel.

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Wall Street surged on Wednesday, with major indexes posting first gains in September, after a German court backed the government's role in bailing out other eurozone countries.

The Dow Jones industrial average rallied 275.56 points, or 2.47 percent, to 11,414.86. Bank of America soared about 7 percent to lead the blue-chip average after the bank ousted two top executives. American Express and JP Morgan Chase, the other two major banks in the Dow, also ended more than 4 percent higher.

All of the ten big-cap sectors of the broader Standard & Poor' s 500 ended firmly higher, lifting the index 33.38 points, or 2.86 percent higher, to 1,198.62.

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The Nasdaq Composite Index fared best, surging 75.11 points, or 3.04 percent, to 2,548.94. Yahoo's stock rose more than 5 percent after the company fired its CEO following more than 2 1/2 years of financial lethargy.

Wednesday's gains came after three straight losses on concerns of worsening European debt situations and dismal U.S. economic outlook.

However, sentiment was lifted after a German court tossed out lawsuits aimed at blocking the country's participation in helping Greece and other eurozone countries. Investors now hope that Berlin might get more involved in bailout packages.

The rally continued in afternoon trading after the Federal Reserve released its Berge Book, saying the U.S economy was still moderately expanding even though it slowed in some regions.

Meanwhile, investors were looking forward to President Obama's Thursday speech before Congress, in which Obama is expected to unveil job-creating and tax-cutting plans to boost the weak economy.

According to some reports, President Obama plans to propose sparking job growth by injecting more than 300 billion dollars into the economy next year, mostly through tax cuts, infrastructure spending and direct aid to state and local governments.

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In other markets, the U.S. dollar fell against major currencies in late New York trading while U.S. crude oil prices surged on Wednesday as a majority of oil production in the Gulf of Mexico remained shut because of the Tropical Storm Lee.

Prices of light, sweet crude for October delivery jumped 3.32 dollars, or 3.86 percent to settle at 89.34 dollars a barrel on the New York Mercantile Exchange.

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Eight law-enforcement and security members were killed and dozens injured Wednesday by armed groups in several neighborhood in the central city of Homs, the official SANA news agency reported.

These armed groups attacked civilians and sabotaged public and private properties, SANA said, adding that special apparatuses handled these groups and confronted it, leaving five of its members killed and arrested others.

It said those who were killed were wanted and had criminal records of robbery and murder.

In a related development, an official military source was quoted late Wednesday by SANA as saying that security forces hunted down and confronted a terrorist group at al-Hamidieah neighborhood in Homs and confiscated automatic rifles, explosive devices and rocket-propelled grenades. The source said some members of the armed group were killed in the shooting.

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The group has booby-trapped the Hamidieah area, the source said, adding engineering experts were called to dismantle the explosives.

Earlier Wednesday, about 11 law-enforcement members and four civilians were injured when an explosive device, set by armed terrorist groups, exploded in the southern town of Naeima, according to SANA.

Meanwhile, the London-based Syrian Observatory for Human Rights said about 10 civilians were killed in clashes with government forces Wednesday across Syria.

The report couldn't be independently verified as journalists are banned from heading to restive areas.

Syria has been in unrest since mid-March when anti-government protests broke out in the southern province of Daraa and spread to other cities.

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Activists and human rights groups said more than 2,200 civilians have been killed in the alleged government operation against the protest movement.

The Syrian government disputes the toll, blaming the months long unrest on armed groups backed by foreign conspiracy with the aim of unseating al-Assad.

The Syrian authorities have vowed to track down gunmen who have intimidated the people and damaged public and private properties.

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Market hearsay on Tuesday went that Groupon Inc., a Chicago-based daily deal website, has canceled the road shows for its initial public offering (IPO) scheduled to be made next week and is reassessing the timing of IPO due to drastic volatility on the stock market.

An informed source disclosed that Groupon isn't canceling its initial public offering, but is reconsidering the timing for an IPO on a week by week basis. The company originally planned to go public after Labor Day and to price its shares in mid-September.

The source added that given the recent drastic ups and downs on stock market, Groupon executives had started taking a wait-and-see approach.

The daily deal operator filed for IPO in June this year.

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U.S. crude oil fell on Tuesday as concerns about a global economic slowdown weighed on the markets.

Light, sweet crude for October delivery fell 43 cents, or 0.50 percent to settle at 86.02 dollars a barrel on the New York Mercantile Exchange. But in London, Brent crude for October delivery surged due to the continuing uncertainty in Libya, and last traded around 113 dollars a barrel.

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Fox News Chief White House Correspondent Ed Henry experienced a tense moment with President Obama during a Thursday press conference. The President held a joint press conference with Lee Myung-Bak, President of South Korea. Ed Henry had the first question of the conference and asked Obama if he considered the alleged Iranian assassination plot to be "an act of war."

Henry decided to quote a Mitt Romney statement from last week when asking for the President's plans to address Iran's alleged terror plot. Henry asked the President "what specific steps will you take to hold Iran accountable? Especially when Mitt Romney charged last week, quote, 'If you do not want America to be the strongest nation on Earth, I am not your President. You have that president today.'"

Obama paused and answered, "Well I didn't know that you were the spokesperson for Mitt Romney," and smiled down at Henry.

Henry discussed the exchange with Megyn Kelly on her show and defended his decision to quote Mitt Romney in his question. “I was trying to put it in the broader context of not just Mitt Romney, but there are a lot of Republicans out there who would charge that this president leads from behind," he said. "...Instead, he decided to go after me a little bit."

Henry has clashed repeatedly with Obama's spokesman, Jay Carney.

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On Thursday evening, a couple dozen Occupy Wall Street protesters in Zuccotti Park grabbed brooms and buckets and set about sweeping up the site. For the last two days, they had begun to work harder than usual to keep the park clean and attractive, putting their brooms to work, filling up buckets of water at nearby restaurants and even, according to one protester, planting flowers.

Protesters say they are cleaning the park so that the city doesn't have to do so. On Wednesday, Mayor Michael Bloomberg announced that Zuccotti Park would be closed temporarily at the end of the week so that sanitation workers could clean it, which they had not done since the protests began. Many of the protesters said they saw this as a ploy to get them out of the park permanently, and their suspicions were further intensified when Ray Kelly, the commissioner of the NYPD, said Thursday that they would not be able to bring back their sleeping bags and other items after leaving. The city's clean-up is scheduled for 7:00 a.m. Friday, and many of the protesters have vowed to resist any attempt at evacuation.

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In a letter sent to Kelly on Tuesday, Richard B. Clark, the chief executive of Brookfield Properties, the company that owns the park, wrote, "After weeks of occupation, conditions at the park have deteriorated to unsanitary and unsafe levels."

On behalf of the protestors, a group of New York civil liberties lawyers issued a letter to Clark today in which they wrote that a sanitation group at the site has been addressing the concerns raised in the CEO's letter "all along" and has "committed itself to carrying out a thorough and complete cleaning" as an extra measure.

"Trash has consistently been bagged and hauled to established collection points and recycling rules have been strictly adhered to," they wrote, adding that the sanitation group "typically has had between one and fifteen people sweeping the Park with brooms at any time."

The lawyers concluded their letter with an offer to meet to resolve the controversy.

Brendan Burke, a protester who lives in Brooklyn, said that he runs "patrols" several times each day, pressing people to keep their spaces clean. Not everyone complies, he said, but overall, the group has been more orderly and respectful than not. Because this is New York, he found it fitting to add that he had yet to see a rat.

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At 6:00 p.m. Thursday, while protesters began the cleaning effort, a group of about 20 New York council members and state senators expressed their support of the protesters at a press conference in the plaza across the street from the park. They included Margaret Chin, the city council member whose district includes Wall Street. "I call on the mayor to do everything you can to make sure the peaceful demonstrations continue," she said.

Jumaane Williams, a council member from Brooklyn, addressed the mayor directly. "Hopefully you'll be remembered for something other than dismantling democracy in this city." He finished his speech with a flourish, leading the crowd in a chorus of a chant that has reverberated through the area for weeks: "All day, all week, Occupy Wall Street."

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About an hour after the press conference ended, there was a tense stand-off between police and protesters on Wall Street outside of the restaurant Cipriani. A scrum of protesters had marched down to the restaurant because they'd heard that the mayor would be making an appearance at a gala there. They gathered across the street from the restaurant, shouting slogans, while a line of police stood in front of them, blocking the restaurant's entrance. They left after the police threatened to arrest them.

Angela Doyle, the executive vice president of 1199SEIU, a local health care workers' union, said that she had been inside the restaurant when the mayor presented an award. When the room rose to give him a standing ovation, she said, two tables of union representatives "sat on their hands."

When she heard that there were protesters outside, she said, she decided to come take a look. The union's goals are "completely congruous" with those of the protesters, she said.

Standing outside the restaurant, smoking a cigarette, she said she was thinking about reaching out to her friends in the sanitation union to see if she could interest any of them in volunteering to help the protesters with the clean-up. Like the protesters, she was suspicious of the mayor's intentions. "If sanitation is his concern, " she said, "I could show him some neighborhoods in the Bronx."

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Both the Islamic Hamas Movement and Israeli Prime Minister Benjamin Netanyahu confirmed Tuesday night the prisoner swap deal under which Israeli soldier Gilad Shalit held captive in Gaza would be freed in exchange for the release of 1,000 Palestinians jailed in Israel.

Izzeldein al-Qassam Brigades, Hamas' armed wing in the Gaza Strip, said on its website that an honorable deal had been reached and will be implemented within the coming few days.

The deal was reached in accordance to criteria that had been agreed upon for the first time in the history of prisoner swap deals, said the armed group.

Hamas militants and two other minor militant groups, the Popular Resistance Committees and the Army of Islam, abducted the 22-year-old Shalit in a cross-border raid on an Israeli army base southeast of the Gaza Strip in June 2006.

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Shalit's captors demanded the release of 1,000 Palestinian prisoners in Israeli jails, including 450 prisoners who have spent more than 25 years behind the bars in Israeli jails. Germany and Egypt have been mediating a deal between Hamas and Israel.

Khaled Meshaal, head of Hamas' politburo in Damascus, is expected to give a speech Tuesday night on the prisoner swap deal, well-informed Hamas sources said.

The Dubai-based Al Arabiya television channel reported on Tuesday night that an agreement, mediated by Egypt, has been reached between Hamas and Israel on releasing Shalit.

Mahmoud al-Zahar, a senior Hamas leader currently in Cairo, told TingVoa.com by phone that he doesn't want to comment on media reports, saying In case there is an agreement, Hamas will certainly declare it.

Meanwhile, a source close to the Israeli government confirmed that the Israeli cabinet held a meeting last night till 5 a.m. ( 0300 GMT) discussing the prisoner swap deal.

Since Shalit has not arrived here, Israel can not say the deal has been done, the source added.

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Israeli Prime Minister Netanyahu held an urgent cabinet session Tuesday evening, during which he explained to cabinet members details of the deal.

Netanyahu told reporters after the meeting that he has presented the deal to his cabinet and most of his cabinet members have voiced support for it.

He said his cabinet is still discussing the deal and Gilad Shalit will be coming home in a few days.

Netanyahu said he would stand true to his promise to bring Schalit home to his parents and grandparents.

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Two men have been charged in the U.S. for their alleged participation in a plot to murder the Saudi Arabian Ambassador to the United States with explosives, the U.S. Justice Department said on Tuesday. The two men also plotted to blow up the Saudi and Israeli Embassies in the U.S. capital Washington.

Manssor Arbabsiar, a 56-year-old naturalized U.S. citizen holding both Iranian and U.S. passports, and Iranian Gholam Shakuri were charged with conspiracy to murder a foreign official, and conspiracy to use a weapon of mass destruction, among others, the Justice said in a statement. It alleged that the plot was directed by elements of the Iranian government. Shakuri was believed to be a member of the Iranian Islamic Revolutionary Guards' Quds Force.

Arbabsiar was arrested on Sept. 29, 2011, at New York's John F. Kennedy International Airport. He faces a maximum potential sentence of life in prison if convicted. Shakuri remains at large. Arbabsiar was arraigned Tuesday afternoon in a New York court.

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According to a criminal complaint filed in the Southern District of New York, Arbabsiar and his Iran-based co-conspirators have been plotting the murder of Adel al-Jubeir, the Saudi Ambassador, since spring this year. He allegedly met on a number of occasions in Mexico with an informant of the U.S. Drug Enforcement Administration (DEA) who has posed as an associate of an international drug trafficking cartel.

Arbabsiar arranged to hire the DEA informant to murder al- Jubeir, and Shakuri and other co-conspirators were aware of and approved the plan, the complaint said.

The complaint alleges that this conspiracy was conceived, was sponsored, and was directed from Iran and constitutes a flagrant constitution against the law from protecting diplomats from being harmed, U.S. Attorney General Eric Holder said at a press conference.

In addition to them being held accountable for their plot, the United States is committed to holding Iran accountable for its actions, he said.

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ABC news reports quoted U.S. officials as saying the suspects also plotted to bomb other targets such as the Saudi and Israeli Embassies. Officials say Arbabsiar expressed utter disregard for collateral damage likely to be incurred by the attacks. They also discussed bombing Saudi and Israeli Embassies in Buenos Aires, Argentina.

After the announcement, U.S. Treasury Department slapped sanctions on four individuals linked to the assassination attempt. U.S. defense officials were quoted as saying there has been no change to U.S. military posture in reaction to the plot. U.S. Navy ships in the region have not been repositioned, and at this point there's no plans to do so.

Iranian officials have denied the allegations. President Mahmoud Ahmadinejad was quoted as saying the allegations were fabrication to distract public attention from growing popular protests inside the United States.

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The U.S. Senate on Tuesday passed a controversial currency bill which threatens to punish China for so-called currency manipulation with retaliatory tariffs, despite strong opposition from China and many U.S. business groups.

The Currency Exchange Rate Oversight Reform Act, sponsored by Senators Charles Schumer, Sherrod Brown and other Democratic and Republican Senators, was passed in a vote of 63-35 at the Senate. The bill is especially directed at China's currency, the yuan, which the U.S. claimed is undervalued to make Chinese exports to the U.S. cheaper.

With alleged goals of reducing trade imbalance between the two countries and creating more jobs at home, the U.S. Senate bill aims to make it easier for the U.S. government to designate China as a currency manipulator and slap retaliatory tariffs on goods imported from China.

But the prospects of the bill becoming law remains in doubt, as it still has to clear the House of Representatives and then be signed by U.S. President Barack Obama before becoming law. Both Obama and House Speaker John Boehner have expressed their reservations about the legislation.

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Obama told a White House news conference last Thursday that his main concern about the Senate bill is that it may not be consistent with international treaties and obligations, and will not be upheld by the World Trade Organization.

Boehner also made it clear last week that it is pretty dangerous to be moving legislation through the United States Congress forcing someone to deal with the value of their currency.

The U.S. Senate's move came at a time when the U.S. unemployment is hovering above 9 percent and both the Democratic and Republican parties are gearing up for next year's presidential election, which is expected to be dominated by the unemployment and other economic issues.

U.S. companies doing business in China are also opposed to the Senate's passing of the bill. In a letter sent in late Sept. to Senate leaders, 51 U.S. business and industry organizations, including American Association of Exporters and Importers, American Chamber of Commerce in China, and Agriculture Transportation, warned that unilateral legislation on this issue would be counterproductive not only to the goals related to China' s exchange rate that we all share, but also to our nation's broader objectives of addressing the many and growing challenges that we face in China.

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Arguing that the yuan's exchange rate is not the cause of China- U.S. trade imbalance, China has voiced its strong opposition to the U.S. Senate's passing of the bill, warning the U.S. politicians against politicizing the issue of China's currency and resorting to trade protectionism.

China's Vice Foreign Minister Cui Tiankai on Monday warned that the bill could trigger a trade war and hold back global economic recovery. (The currency bill) in no way represents the reality of the economic and trade relationship between China and the United States, and it might have an adverse impact on the development of the relations between the two countries, he said.

Should the proposed legislation become law, the only result would be a trade war between China and the U.S. and that would be a lose-lose situation for both sides, Cui added.

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Kidnapped Israeli soldier Cpl. Gilad Shalit will be reunited with his family in coming days, Israeli Prime Minister Benjamin Netanyahu told local media before his government started an emergency session to discuss a prisoner exchange deal with Hamas.

Hamas officials earlier on Tuesday confirmed that the deal, brokered by Egyptian and German mediators, had been initialed.

Shalit was kidnapped on June 25, 2006, when Hamas Palestinian militants tunneled under the Gaza-Israel border and attacked Shalit's tank unit.

After a brief failed rescue operation, negotiations for Shalit' s release began under Egyptian and German mediation, as Israeli military forces were diverted to the northern border in what would become the second Lebanon war.

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There were several near-deals in the intervening years, but none succeeded, until Tuesday. The main issue has been how many Palestinian prisoners that Israel would release, and under what terms, in return for Shalit.

Netanyahu seriously wanted him back like all Israelis and it finally became possible, Prof. Joshua Teitelbaum, of the Inter- Disciplinary Center in Herzliya, told TingVoa.com, adding: Maybe Hamas dropped some of the people on the list.

A total of 450 specific Hamas security prisoners who took part in planning and perpetrating terror attacks against Israelis, and up to 550 more would be released, according to The Jerusalem Post.

Details of the exact procedure of the prisoner swap are still under wraps, so it still remains to be seen whether or not they will be first released to Egypt before returning to either the West Bank or Gaza. In some previous prison exchange deals Israel has insisted that some of the prisoners be settled outside the Palestinian territories.

DOMESTIC POLITICS

The main issue for Israel throughout the negotiations has been not only the number of prisoners that would be released but also their classification. In particular, Israel has objected to the type of prisoners that Israel labels as having blood on their hands, meaning direct involvement in attacks against Israelis.

Teitelbaum noted that there could be many internal Israeli political reasons for the timing of the deal. Netanyahu may be looking for a particularly strong victory after the massive social protests that swept the country over the summer, as well as a way to shore up his political support at home.

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Hundreds of thousands of Israel participated in demonstration across the country to protest the increased cost of living and to criticize the economic policies of the Netanyahu, and previous governments.

STRONGER HAMAS

Teitelbaum argued that the Palestinians would almost certainly view the swap as a victory for Hamas.

This is a way for Hamas to say that 'prisoners were always an important issue for the Palestinian street and to look at how many we got back for what we did to Israel,' Teitelbaum said.

He believes Hamas could now claim that instead of participating in peace negotiations with Israel as the Palestinian National Authority under Mahmoud Abbas, it took practical action. And Hamas not only managed to secure the release of its own prisoners, but also those belonging to other militant groups as well.

It's very importantly for them internally as well, to have some kind of achievement, Teitelbaum said.

Palestinian political analysts Hani al Masri said that one of the reasons that the deal went ahead was that maybe Israel wants to strengthen Hamas because Abu Mazen (Abbas) is now in a strong position, and to increase the split between the Palestinian people.

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Masri said that if the agreement has been reached before Abbas' speech in the United Nations on Sept. 23, when he called for Palestinian independence, it would have threatened his position.

Israel and several other nations, including the United States and several European states opposed Abbas' move. Israel contends that a peace agreement must be negotiated before the Palestinians can achieve an independent state.

However, after all the international support that Abbas has received, a deal will be less harmful, due to his internal popularity Masri said.

This step won't have a negative effect among the Palestinians because it's positive for all the Palestinians, Masri said.

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Masri feels that the fact that the prisoners to be freed are from a number of groups, and not only Hamas, will serve as a positive role for healing rifts within Palestinian society. It may help the reconciliation between the Palestinians -- the opposite what Israel wanted from this agreement, Masri said.

Since Hamas took control of Gaza in 2007, the Palestinians have had two governments, with Hamas ruling the coastal enclave, and Abbas' Fatah governing the West Bank.

Shalit's parents and Israeli officials have often pointed out that Shalit hasn't been granted any visitation rights by the International Red Cross or any other humanitarian organization, as required by the Geneva Conventions for the treatment of prisoners of war. In October 2009, however, Hamas released a video showing Shalit pleading for the Israeli government to negotiate his release.

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China and Vietnam on Tuesday signed an agreement on basic principles guiding the settlement of maritime issues existing between the two countries.

The six-point agreement is in accordance with the consensus reached by the leaders of China and Vietnam and is based on a 1993 agreement on basic principles for resolving territorial and border issues existing between the two countries, the agreement said.

The two countries should remain committed to friendly consultations in order to properly handle maritime issues and make the South China Sea a sea of peace, friendship and cooperation, the agreement said.

The agreement was signed by China's Vice Foreign Minister Zhang Zhijun and his Vietnamese counterpart Ho Xuan Son.

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China and Vietnam should seek a basic and long-term approach that will be acceptable for both sides in solving maritime disputes on the basis of legislation and principles enshrined in international law, including the United Nations Convention on the Law of the Sea signed in 1982, the agreement said.

Both sides should fully respect legal principles, take history and other relevant issues into consideration and accommodate each other's concerns in a constructive manner, the agreement said.

In the process of negotiating maritime issues, both sides should abide by the agreements and consensus reached by the countries' senior leaders and implement the Declaration on the Conduct of Parties in the South China Sea (DOC), the agreement said.

Both sides should solve maritime disputes through negotiations and friendly consultations, and the two countries should consult with other countries if they are also involved in the disputes, the agreement said.

While seeking a basic and long-term approach to resolve maritime issues, both sides should explore interim and temporary solutions, including research and negotiations on the joint development of the sea, without impacting each side's stance and position, the agreement said.

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Both sides should seek steady progress in negotiations regarding the maritime demarcation of the baymouth of Beibu Gulf and discuss the joint development of the sea area, the agreement said.

Both sides should promote maritime cooperation in less sensitive fields, including marine environmental protection, scientific research, search and rescue, disaster reduction and prevention, the agreement said.

Heads of the border negotiation delegations of both countries should hold regular meetings twice a year, which will rotate between both countries, the agreement said, adding that special meetings will take place if necessary.

Both sides agreed to set up a hotline contact mechanism in order to allow them to promptly communicate and properly deal with maritime issues, the agreement said.

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Russian Prime Minister Vladimir Putin called Tuesday for closer economic ties with China, saying the two countries share a lot of common interests.

To gain more room in the international market, we need to make joint efforts to push our cooperation to a new high, Putin said in an interview with Chinese media after talks with Chinese Premier Wen Jiabao in Beijing.

Putin said the cooperation between China and Russia is comprehensive and diversified, involving energy, finance, technology and machinery.

In terms of energy cooperation, Putin said Russia and China are cooperating not only in the supply of oil and natural gas, but also in joint exploration and exploitation.

Putin said Russia is also cooperating with China in nuclear energy.

We are all aware of the tragedy of nuclear leaks in Fukushima, Japan. But it is impossible for such big countries as Russia and China to do without nuclear energy, so we cannot just shut down nuclear power plants, Putin said.

The key is to improve the facilities through researches, he added.

Putin is making a two-day visit to China for the 16th regular meeting between the two countries' prime ministers.

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Fatal clashes between protestors and military forces on Sunday evening in Cairo showed the fragile stability in Egypt during the current transitional period, which features various new or old social problems.

Egypt's health ministry said 25 people died and about 329 were injured in the incident, the most violent clash since the fall of ex-president Hosni Mubarak in February after 18 days of anti- government protests.

The Egyptian government on Monday formed a committee to probe the clashes. Prime Minister Essam Sharaf called for national unity against plots that aimed at creating chaos and delaying the parliamentary polls.

The latest protests by Egypt's Copts were sparked by an attack on a church by Muslims in southern Aswan province on Sept. 30. Muslims claimed the church had no official permission.

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Relations between Muslims and Copts raised new concerns in Egypt. Copts accounting for about one tenth of Egypt's total population of around 80 million often complained about being discriminated.

The Copts file is a heavy burden that Mubarak's regime left to the country, said Ammar Hassan, head of the Middle East Center for Political and Strategic Studies. Sectarian tension becomes common in recent years in the Muslim-dominated country.

The sectarian problem has been existing since Mubarak's era. We have to face it and find solutions to get everything on its right way, Hassan said.

Some Egyptian analysts blamed the incident on the governments who failed to solve the problems with actions.

The sectarian tension was just one of the challenges to affect the country's stability. Labor strikes for high salaries have been common among teachers, workers, doctors, nurses and bus drivers.

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High unemployment, poverty, inflation and low economic growth due to the unrest also deepen the plight of the poor people, who account for a large part of the population.

As the parliamentary elections approach, calls for ending the emergency law continue. The emergency law, which has been effective for some 30 years, was reactivated after the Israeli embassy building in Cairo was stormed in last month. Its implementation became relaxed after Mubarak's fall. The military said the law was designed to be in effect until mid-2012, but it plans to end it as soon as possible, depending on the situation in the country.

It is clear the latest fatal clashes could serve as a new excuse for the emergency state to continue.

Many political groups urge the ruling military council to use the Treason Law to ban remnants of the former ruling National Democratic Party from joining in the upcoming elections, which has drawn criticism from Mubarak's loyalists, who demand political rights.

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The former NDP members held a rally recently to express their voices. If completely banned from participating in the elections, they would not give up their demands easily.

The military council has made concessions to the demands of the major political groups, who threatened to boycott the polls if their demands are not met. For example, parties are allowed to compete all the seats of parliament instead of two thirds as stipulated in the initial electoral law. It has also decided to stop trials of civilians in military courts except for certain cases.

However, this does not mean the military council has full support from the public. Instead, many activists and political forces have been pressing it to transfer power to a civilian government as soon as possible. Six potential presidential candidates even set the deadline of April.

According to the general timetable, the parliamentary elections will last some four months. And a constitution will be drafted before presidential elections. Analysts say this means the president will be elected at the end of next year or even early 2013.

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Thus, disagreements will continue between the military council and political groups about the duration of the transitional period.

Concerning the constitution, Islamic groups have their own demands but they are opposed by secular and liberal groups. The rise of Islamic forces after the fall of Mubarak regime also poses a threat to the rights and interests of Copts.

Akrm Houssam, a researcher with Egypt's National Center for Middle East Studies, said all groups wanted to make use of the critical period to insist on their own demands and find solutions to their problems.

But he believed the armed forces are capable of making Egypt pass through the transitional period.

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Egypt's ruling Supreme Council of the Armed Forces (SCAF) held on Monday an urgent meeting on Sunday 's fatal clashes and commissioned Prime Minister Essam Sharaf's cabinet to form a fact-finding committee to investigate the incident.

Offering his condolences to the families of those killed in the clashes, SCAF chairman Hussein Tantawi said in a statement that the clashes between protestors and military forces outside the state television building in downtown Cairo were inflamed by unknown culprits who turned a peaceful march into violence.

Tantawi affirmed the ruling military council will remain fully committed to its planned roadmap for peaceful transition of power.

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The government decided to submit a draft for licensing the existing worshiping buildings to the jurisdictions committee in the cabinet, official MENA news agency reported.

A new item about anti-discrimination will be added to the penal code.

The National Justice Committee of the cabinet council was assigned to quickly draw a unified law for the construction of worshipping houses, to be approved within two weeks.

Meanwhile, the military prosecution started on Monday investigations into 25 suspects, who participated in vandalism acts, attacked armed forces personnel and set fire on army vehicles, the agency quoted an official as saying.

On Sunday night, peaceful demonstrations turned into clashes between protestors and security forces, leaving at least 25 dead and 329 injured.

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In a brief televised speech in the early hours on Monday, Sharaf urged Egyptians to keep united against plots of internal and external forces to undermine Egypt's national security and relations between army and civilians, Muslims and Copts.

Copts account for about one tenth of Egypt's total population of around 80 million. Tensions between Christians and Muslims sometimes occur due to the construction of churches or conversions.

The conflict was the most violent since the fall of ex- president Hosni Mubarak in February after 18 days of mass anti- government protests. It came as Egypt is bracing for the parliamentary elections scheduled to start on Nov. 28. The date of presidential polls is yet to be announced.

aaaaa posted on Monday, 7th November, 2011 at 4:02pm

A Greek referendum over the European Union (EU) aid package was more unlikely on Thursday, as Greek Prime Minister George Papandreou suggested during a crucial cabinet meeting that he was willing to withdraw the plan in exchange for the forming of a national coalition.

The referendum was never a primary goal in itself. Even though we are not afraid of people's judgment, I am glad this discussion forced the main opposition to support the October 26 agreement on the new aid package, he said in a statement.

He would seek the creation of a national consensus administration in the coming hours with the main opposition conservative party New Democracy (ND), the prime minister said.

Amid a revolt by key cabinet ministers and lawmakers of the ruling PASOK party, Papandreou did not confirm the rumors that he intended to step down.

He said he was forced to call a referendum on Monday to force the ND Antonis Samaras to shoulder his responsibilities.

Holding snap general elections at the moment would pose a danger of default for the country, the prime minister warned.

He announced that he mandated his close aide Nikos Athanasakis and Transport Minister Dimitris Reppas to negotiate the creation of a national unity government with the ND.

He had a short telephone conversation with Samaras, who earlier Thursday had called for a transitional government and snap election in the coming weeks, according to a statement released by the prime minister's office minutes before he addressed PASOK's parliamentary group.

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The wide majority of Greek citizens prefers the forming of a national unity government rather than holding early general elections, according to the results of two opinion polls released on Saturday in Athens.

A 52 percent of respondents in the poll conducted for Greek newspaper Proto Thema (Top Story) supported Greek Prime Minister George Papandreou's proposal for the creation of a coalition that will lead the country until the implementation of the October 26 EU deal of the fresh aid pact for debt-laden Greece.

A 36 percent of respondents backed the call of main opposition party leader Antonis Samaras for snap polls in early December.

In a second poll conducted for Ethnos (The Nation) daily, the result was 45 percent in favour of a national salvation government and 41.7 percent in favour of early national elections.

According to the second opinion poll, five out of ten Greeks expressed doubt that any new government could implement different policies rather than the austerity and reform drive launched last year under the bailout agreement with international lenders to address the debt crisis which threatens Greece with default and the euro zone with a domino effect.

Both polls gave main opposition conservative New Democracy party a lead with 22.5 percent to 15- 15.5 percent for the ruling socialist PASOK party.

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Different accounts on deaths emerged Thursday from Syria's central province of Homs, one of the country's most volatile areas, a day after Syrian authorities pledged to withdraw its forces from protest centers under a peace plan initiated by the Arab League (AL) to end months of bloodshed.

The Qatari-based al-Jazeera TV quoted an activists group, Local Coordination Committees, as saying that at least 19 people were killed Thursday during army operations in Bab-Amro area in Homs.

The unrest-torn city has witnessed a flare-up of violence since Tuesday ahead of the AL ministerial committee's scheduled meeting with a Syrian delegation to discuss ways of putting in force the AL plan to defuse tension in the country.

Syria-news website reported that a total of 72 people were killed over the past 24 hours in Homs by masked gunmen who targeted passing cars and civilians.

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The discrepancy couldn't be resolved as journalists are banned of independently heading to restive areas.

Earlier in the day, the private al-Watan newspaper said more than 24 people were killed in Homs on Wednesday, including 13 army personnel.

According to the report, the National Hospital in Homs received Wednesday 18 mutilated bodies along with tens of wounded, some in a critical condition. Al-Ahli Specialist Hospital also received several bodies and more than 50 injured.

Fierce clashes erupted late Wednesday in Homs after Qatari foreign minister Hamad Bin Jassim Bin Jabr Al-Thani, who led the AL ministerial committee, announced Syria's approval on the Arab initiative.

A peace plan for ending the months-long Syrian political crisis was reached Wednesday between the Syrian government and the AL.

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The plan calls for stopping violence and withdrawing military vehicles from Syrian streets, in addition to releasing detainees and holding a dialogue between the Syrian authorities and the opposition.

The Syrian opposition abroad has shown no appetite in embarking on a dialogue with the Syrian regime and questioned its intention, accusing the regime of trying to buy time.

Syria has overtly charged that some countries are behind the unrest in the country and even fund what it called armed terrorist groups it blames for killing hundreds of policemen and military personnel across the country since the start of violence in mid March.

Syria also says weapons have been smuggled into the country and reached hands of those terrorist groups via neighboring countries.

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Greece is ready to send European partners a clear message that there is no need to hold a referendum on the European Union (EU) bailout package to avert a default and is determined to swiftly ratify last week's agreement in parliament, the country's deputy prime minister and finance minister said on Thursday.

Deputy Prime Minister and Finance Minister Evangelos Venizelos presented a road map for the forming of a coalition government and eventually general elections, while addressing a ruling party parliamentary group meeting in Athens.

He took the floor right after Prime Minister George Papandreou delivered an address. Papandreou is under mounting pressure since early Thursday from cabinet ministers and ruling party lawmakers to resign over the referendum, which sent shockwaves internationally amid anxiety for a Greek exit from the eurozone that would destabilize the region.

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Papandreou has dismissed the calls for him to resign and dropped his plan for the referendum in exchange for coalition government talks.

The top target for Greece at the moment is the release of the next EU/International Monetary Fund aid tranche in the coming weeks to stave off a bankruptcy, as the country could run out of cash by mid-December, Venizelos noted.

He would shortly brief his EU counterparts in written form on the country's intentions, he said.

Reassuring that the Greek banking system is not at risk, he urged lawmakers of the ruling party to give the government a confidence vote on Friday evening and support the efforts to create a national unity administration that will lead the country to general elections at some point.

The Oct. 26 EU pact should be approved by the 300-member assembly with an increased majority of 180 seats, Venizelos underlined. The government currently holds a razor-thin two-seat advantage, but many ruling party deputies warned on Thursday that they would most probably cast negative votes.

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A U.S. State Department official said on Thursday that Washington has seen no evidence that Syrian President Bashar Assad intends to end the prolonged violence in the country despite the recently-reached Arab League accord.

We obviously thank the Arab League. We welcome its efforts to stop the Assad regime's brutal assault. But we have not seen any evidence that the Assad regime intends to live up to the commitments that it's made, said State Department spokeswoman Victoria Nuland in a regular briefing.

Qatari Prime Minister and Foreign Minister Sheikh Hamad bin Jassim al-Thani said on Wednesday in Cairo that the Syrian government has fully accepted the Arab League peace plan, which calls for stopping violence and withdrawing the military vehicles from Syrian streets, releasing detainees and holding dialogue with the opposition.

However, despite Assad's commitment, the Obama administration has remained suspicious, continuing to demand his ouster.

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As we've said many times before, this Assad regime has a long, deep and continued history of broken promises, and it has significant blood on its hands, said Nuland.

She laid out the conditions that Assad must accept, including stopping violence, release of detainees, withdrawal of military forces from populated areas and so on.

So that's the standard by which we will judge this, and we have not seen it yet, Nuland said.

Anti-government protests have continued unabated across Syria for more than seven months with mounting calls for Assad to step down, while the death toll has hit more than 3,000.

The U.S. and its European allies have imposed a set of sanctions on senior Syrian government officials and entities, and called for Assad to step down.

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Greece remains committed to the implementation of the latest EU pact on further aid to Athens and efforts to safeguard the country's membership in the eurozone which was at stake due to lack of consensus, Prime Minister George Papandreou said Thursday.

The Oct. 27 agreement was a turning point for our country. What was at stake was the country's position within the European common currency zone due to lack of consensus, the embattled prime minister told PASOK's deputies during a meeting broadcast live on the national television.

The referendum call was a way to force alliances and seek a national consensus government, he argued, repeating the framework of an address made earlier in a cabinet meeting.

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Papandreou indicated once again he was backing down from the idea of holding a referendum in early December over the ratification of the EU deal or a Greek exit from the eurozone and focusing on coalition talks.

His surprise announcement on Monday evening in a similar party gathering caused an uproar inside and outside Greece over fears of a Greek bankruptcy that would hit the euro, leading to an open rebellion by cabinet ministers and lawmakers on Thursday.

We had three alternatives, to call general election, hold a referendum or achieve a wide consensus, he told the parliamentary group on Thursday afternoon.

He added that the third option was now open following main opposition party's leader announcement earlier on Thursday that he supports the ratification of the Oct. 27 pact by the parliament.

Emerging from the cabinet meeting, Papandreou made clear that he does not plan to resign, but will seek a confidence vote in parliament on Friday night and seek the formation of a national salvation government.

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Chinese President Hu Jintao said here Wednesday that all members of the international community should work together to cope with worldwide economic difficulties.

The world is experiencing a sluggish economic recovery, he said in talks with Christine Lagarde, managing director of the International Monetary Fund (IMF), ahead of a G20 summit slated for Thursday and Friday in Cannes.

Hu noted that some developed countries are struggling with serious sovereign debt problems, while emerging economies are confronted with inflation and drastically fluctuating cross-border capital flows.

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Under such circumstances, all members of the international community should follow the all-in-the-same-boat spirit and join hands to ride out the current woes, he stressed.

The world should figure out ways to maintain stable growth, revive market confidence and prevent further spread of the crisis, he said, adding that structural reforms should be carried out to guarantee a robust, sustainable and balanced global economic growth.

Maintaining a robust growth should be a top priority at the current stage, the Chinese president said, while urging concerted efforts to resist all forms of protectionism resolutely.

Lagarde appreciated China's support for the IMF, saying that with the global economy facing new threats, the international community should take effective measures to restore market confidence.

She also said the developed economies need to make great efforts and support each other while the IMF can provide more help in this regard.

She added that China is an important country and plays a major role in promoting global economic and financial stability.

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Greece's main opposition leader on Thursday evening insisted on the resignation of Prime Minister George Papandreou, dimming hopes of the creation of a national unity government and pointing to snap general elections.

We are not interested in a coalition government. The premier misunderstood our proposal for an interim administration. I asked for his resignation so that the country will go to polls in normality, conservative New Democracy (ND) party leader Antonis Samaras told the parliament during a debate ahead of a confidence vote scheduled for Friday night.

Samaras said he will walk out of the debate with his parliamentary group, accusing Papandreou of telling lies within and outside the country over the handling of a debt crisis that threatens Greece with default and the eurozone with major repercussions, in a major blow to his administration's and the country's credibility.

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Earlier on Thursday afternoon the ND leader presented a plan for a caretaker government, as Papandreou was fighting an open rebellion by senior cabinet ministers and governing party legislators demanding his resignation due to his call for a referendum on the fresh European Union (EU) bailout package clinched in Brussels last week.

Papandreou's referendum proposal triggered strong reactions across Europe this week over fears of a Greek exit from the eurozone and a Greek default that could hit hard the common currency.

Samaras stressed repeatedly on Thursday that his party will only discuss an interim government with a short term that will lead Greece to early elections instead of the referendum by year end, following the ratification of the EU deal by the Greek parliament.

He underlined that the ND party will support only a new administration made up of technocrats who should be selected by Greek President Karolos Papoulias.

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Addressing the cabinet meeting and his own parliamentary party on Thursday afternoon, Papandreou argued that he had announced the referendum to add pressure on opposition towards consensus, claiming that he reached the goal, since Samaras now backs the ratification of the EU agreement.

Papandreou indicated he has no intention to resign, but will back away from the referendum as talks over a national salvation government will be under way. He rejected the idea of snap elections as a catastrophe for the country at this period, since it would put the EU deal and the release of further vital funding to Athens in doubt.

The Greek Communist Party and the Left SYRIZA coalition represented in parliament also insisted on calls for snap elections, turning down any form of interim coalition administration, as well as the idea of a referendum.

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The U.S. Federal Reserve on Wednesday downwardly revised its projection of the country's economic outlook and reaffirmed openness to further stimulating policy if needed.

The economy is expected to grow by 1.6 to 1.7 percent in 2011 and 2.5 percent to 2.9 percent next year, said the U.S. central bank in an update projection released at a press conference after the meeting of the Federal Open Market Committee (FOMC), the interest rate policy making body of the Fed.

The economic growth remains frustratingly slow although it strengthened in the third quarter, Fed Chairman Ben Bernanke told reporters.

He said the central bank is looking for growth and the job market is expected to improve gradually over the next two years, but at a sluggish pace.

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In its June projection, the Fed said that the economy would increase by 2.7 percent to 2.9 percent in 2011, and 3.3 percent to 3.7 percent in 2012.

In Wednesday's forecast, the central bank saw the unemployment rate will stay at 9.0 percent to 9.1 percent in 2011, and 8.5 percent to 8.7 percent in 2012. These numbers are worse than the June projection, which expected the widely watched unemployment rate to fall to 8.6 percent to 8.9 percent in 2011, and 7.8 percent to 8.2 percent in 2012.

In a statement released before the press conference, the Fed said that economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year.

However, recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated, said the Fed.

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Stargazers across the globe now have one more reason to keep their eyes on the heavens with the successful docking between China's two spacecraft.

The Shenzhou-8 docked with China's first space lab module, the Tiangong-1, early Thursday morning after being launched into space Tuesday from the Jiuquan Satellite Launch Center in the deserts of northwest China.

The two new man-made objects are bound to attract satellite observers as an alternative to the International Space Station (ISS) that took shape over the last 13 years. Both of the spacecraft, like the ISS, are visible to the naked eye when the sky is clear.

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Yu Jun, an amateur astronomer from Beijing, took a photograph of the Tiangong-1 as it passed over the city around 5 a.m. on Oct. 25. Yu took a long-exposure photo by stacking 15 frames, each of which was exposed for 8 seconds, creating a striking image of the spacecraft's path.

The Tiangong-1 showed up on time! Although it was not as bright as was forecasted, it is definitely visible to the naked eye, he said.

The Shenzhou-8 and Tiangong-1 are like two bright and fast-moving stars in the sky, said Zhu Jin, curator of the Beijing Planetarium. Zhu drove from Beijing to Inner Mongolia to witness the launch of the Shenzhou-8 due to the capital's poor air conditions.

Satellites become visible only when they are exposed to sunlight and the observer is in deep twilight or darkness. The best viewing times are shortly after dusk or before dawn, when there is still enough sunlight to reflect off of the spacecraft's surfaces.

It's a solid light, not blinking like an airplane, Zhu said, adding that the apparent brightness of the spacecraft may change depending on weather conditions and altitude.

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